Hirst’s Currency collection is on OpenSea listed at a floor price of 5.1 Ether (ETH), worth $6,539 at the time of writing. The most recently sold V-Day of consent piece was purchased for 5.08 ETH.
Damien Hirst, one of Britain’s wealthiest living artists, is setting fire to millions of dollars’ worth of his own paintings as part of his non-fungible token project “The Currency.”
On October 11 at 12:30pm GMT, Hirst burned hundreds of “The Currency” artworks in his London gallery, ensuring that they exist only as NFTs moving forward.
Last year, “The Currency” was Hirst’s first NFT collection — an oil painting was made up of 10,000 NFTs.
A piece of digital art by Damien Hirst is being tested to see if it is as valuable as a physical work.
Those who purchased one of the $2,000 NFTs at the ba Paraphrase: If a collector wanted to keep his NFT, he had one year to decide.
5,149 paintings are required to be delivered as physical pieces of art in July, and 4,851 paintings are required to be virtual only in July.
According to a BBC report, when asked how he felt after burning the artwork, Hirst said, “It feels good, better than I expected.”
The Newport Street Gallery will burn the remaining oil paintings until The Currency exhibition closes on Sept. 30.
“The misconception is that I’m burning millions of dollars’ worth of artwork, but that is not the case,” said Hirst the day before the burn event.
“The value of digital or physical art, which is hard to define at the best of times, will be transferred to the NFT once they are burnt.”
Hirst’s Currency collection is listed on OpenSea NFT marketplace with a floor price of 5.1 Ether (ETH), worth $6,539 at the time of writing. The most recently sold V-Day of consent sold for 5.08 Ether.